03-15-2017 City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
March 15, 2017
The Firefighters Retirement Plan Board of Trustees met in a regular meeting on Wednesday, March 15,
2017 in the Council Chambers at City Hall. Firefighters' trustees present: Judd Lent, Ryan Moore, Adam
Watkins, Jim Purvis, and Sy Holzman. Attorney Klausner was present via telephone conference call.
Jeremy Langley; Florida League of Cities, was present. Staff members present: Finance Director Van
Zile,Risk and Benefits Manager Ohlinger, and Acting City Clerk Noak.
Board Member Ryan Moore was absent.
CALL TO ORDER
Chairman Lent called the meeting to order at 9:00am.
PUBLIC COMMENTS
Chairman Lent opened public comments. There were no public comments. Chairman Lent closed public
comments.
APPROVAL OF MINUTES
Approval of minutes of the December 15, 2017 Fire Pension Board Meeting.
Acting City Clerk Noak presented the Board with an amendment to the minutes in regards to attendance.
Board Member Purvis moved for approval as amended; seconded by Board Member
Holzman. The motion passed unanimously.
UNFINISHED BUSINESS
Discussion of Proposed City of Clermont Ordinance No. 2017-08 amending the Firefighters Pension
Plan
Finance Director VanZile reviewed the ordinance which will be presented to the City Council. The
ordinance amends the pension plan as previously discussed by the board, specifically relating to how
death benefits would be paid for non-vested members, deaths which occur in the line of duty, the Drop
Program, and the Share Plan.
Board Member Holzman moved for approval of the amendment; seconded by Board
Member Purvis. The motion passed unanimously.
BUSINESS
Approval of Firefighters Pension Plan Actual Expenses—FY 2016
Finance Director VanZile stated there was a legislative change which requires the annual approval by the
board of the fiscal year pension plan expenses.
Board Member Holzman moved for approval; seconded by Board Member Purvis. The
motion passed unanimously.
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
March 15, 2017
Approval of Firefighters Pension Plan Actuarial Valuation—October 1, 2016
Finance Director VanZile presented the Firefighters Pension Plan Actuarial Valuation.
Finance Director VanZile requested action to approve the assumption rate of 7.5 percent.
Board Member Purvis moved for approval of the 7.5 percent assumption rate; seconded
by Board Member Holzman. The motion passed unanimously.
Approval of Firefighters Pension Plan Annual Report—FY 2016
Finance Director VanZile stated the annual report was required to be submitted to the state. The report
will be posted on the League of Cities website.
Attorney Klausner suggested having a signed paper copy available in the event a signed copy is
requested.
Board Member Holzman moved for approval of the annual report; seconded by Board
Member Watkins. The motion passed unanimously.
Board Member Holzman moved to have a signed paper copy of the annual report;
seconded by Board Member Watkins. The motion passed unanimously.
PLAN ADMINISTRATOR REPORT
Discussion of the Investment Performance Report for Quarter Ending December 31, 2016.
Jeremy Langley presented the investment performance report for quarter ending December 31, 2016.
Future reports will be simplified and consist of approximately three to five pages. The Board will receive
a link to the detailed report for each quarter.
Mr. Langley reported a low risk real estate component will be added to the investment plan which will
include large properties, commercial buildings, and apartments.
Board Member Purvis spoke in opposition of investing in apartments.
ATTORNEY REPORT
Attorney Klausner reported Senate Bill 158 proposes an amendment to include four types of cancer. The
bill contains restrictions which could increase risk factors. He reported proposed House Bill 603 would
require a pension board to lower their assumption rate in the event the prior assumption rate was not met.
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
March 15, 2017
BILLS AND EXPENSES FOR APPROVAL
Approval of Plan Expenses—December 1, 2016—March 7, 2017
Finance Director VanZile presented the following expenses for approval:
Quarterly Fees $ 5,367.27
Bill 19292 $ 493.00
Bill 19470 $ 668.00
GASB valuation $ 3,750.00
Actuarial valuation $16,875.00
Board Member Purvis moved for approval; seconded by Board Member Holzman. The
motion passed unanimously.
ADJOURN: With no further comments,this meeting was adjourned at 10:11 am.
APPROVED:
firman Judd Lent
ATTEST:
Tracy Ackroyd Howe,City Clerk
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